The number of U.S. initial jobless claims rose last week, but the labor market remained at a tight level, according to a report released by the U.S. Labor Department on Thursday.
In the week which ends Nov. 10, the number of people filing for U.S. unemployment benefits increased by 2,000 from previous week's unrevised figure, reaching 216,000, said the report.
The report also showed that four-week average of initial claims increased by 1,500 to 215,250 last week, from the previous week's unrevised figure.
The reading of initial jobless claims remained below the 300,000 threshold, which is associated with a strong labor market.
The U.S. economy added 250,000 jobs in October with the unemployment rate unchanged at 3.7 percent, the lowest level in almost five decades, the department reported earlier this month.
With the jobless rate sitting at a low level, the market estimated that the U.S. labor market was near or at full employment, while the continued hiring and wage increases would give U.S. Federal Reserve more reason to further raise its benchmark interest rate.
The Fed raised its benchmark interest rate for the third time this year in September. Fed policy makers also indicated another possible rate hike in December. Enditem
In the week which ends Nov. 10, the number of people filing for U.S. unemployment benefits increased by 2,000 from previous week's unrevised figure, reaching 216,000, said the report.
The report also showed that four-week average of initial claims increased by 1,500 to 215,250 last week, from the previous week's unrevised figure.
The reading of initial jobless claims remained below the 300,000 threshold, which is associated with a strong labor market.
The U.S. economy added 250,000 jobs in October with the unemployment rate unchanged at 3.7 percent, the lowest level in almost five decades, the department reported earlier this month.
With the jobless rate sitting at a low level, the market estimated that the U.S. labor market was near or at full employment, while the continued hiring and wage increases would give U.S. Federal Reserve more reason to further raise its benchmark interest rate.
The Fed raised its benchmark interest rate for the third time this year in September. Fed policy makers also indicated another possible rate hike in December. Enditem
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